First Home Buyers - Succefin Finance

Setting foot on the property ladder

Buying your first property is probably the most important decision in your life and getting the right advice and home loan is as important as choosing the property itself, but do not be intimidated by all the jargon and options available to you.

For information about Home Loans or the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, continue scrolling or contact our team today.

Understanding your financials before searching for a home

We always encourage perspective First Home Buyers to develop positive saving habits before you look to purchase a home. As a homeowner, you will be responsible for paying your mortgage, rates and even property maintenance costs. Developing good savings habits early will make life much, much easier later on. Ensuring you have a firm grip on your finances is extremely important.

Before you start attending ‘Open Houses’, you will need to understand what your price limit is and how much you can afford by analysing your budget. Organising a pre-approval can be super handy for this.

With access to a pool of diverse lenders, we are able to help customers purchasing property borrow up to 99.9% of a property value including lenders mortgage insurance (LMI). This is ideal for those who have limited funds available for the deposit and costs associated with buying a property such as stamp duty and legal fees.

If you would like more information on what loan products might suit your needs, speak to us today.

Speak to a broker

You might be able to apply for the First Home Owner Grant, which helps Australians to get the funds they need to buy, or build their first home.

For more information about the First Home Owner Grant, from what it is, to the eligibility criteria, what the differences are in each state, how much you could receive, and when the grant gets paid, we have included helpful links below.

If you would like more information on how an we can help you, contact us today!

If you’re a first home buyer and you’re buying or building a new home, you may qualify for a $10,000 grant under the First Home Owner Grant (New Homes) scheme if you purchase date was on or after 1 January 2016.

You can make a claim for the First Home Owner Grant if your:

newly constructed home or a substantially renovated home has a total value less than $600,000
land for building and any dwelling you intend to build has a combined value less than $750,000.

To receive the grant when you buy your home:

you must be an individual, not a company or trust
you must be over 18
you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
your purchase date must be on or after 1 January 2016.

Generally, you won’t be eligible for the First Home Owner Grant if you or your spouse:

have previously owned or co-owned a home in Australia or
have received an Australian first home owner grant.

You may still be eligible if you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.

You or one of the other first home buyers who purchase with must move into the new home within 12 months after buying the property, and live there for at least six continuous months.

If you’re buying land and building a new home, you must move in within 12 months after construction is complete.

If you’re a member of the Australian Defence Force you may be exempt from the six-month residence requirement, provided all buyers are on the state electoral roll.

What’s considered a ‘new home’?

If you’re buying an existing home, you can apply for the grant if:

this is the first time the house has been sold and
the house has never been lived in before you move in, including by the builder or a tenant.

Recently renovated homes

Your home is also considered new if it has been substantially renovated before you buy it. You might be eligible for the grant if:

most or all of the house was removed or replaced
this is the first time the home has been sold after those renovations
it hasn’t been lived in since being renovated, including by the builder or a tenant.

Contact Us

Our team will help you search, choose and settle your loan. Chat to one of our loan specialists at a time that suits you.

General Enquiries
0466 045 088

Email

elsieli@succefin.com.au

Terms & Conditions

Copyright © 2020 Succefin Finance Credit Representative Number 502873 is authorised under Australian Credit Licence Number 384704. Westpac - Fixed Options Owner-Occupied P&I <70% LVR - Premier Advantage Package Discount has an interest rate of 1.89% p.a. (comparison rate 3.25% p.a.). Maximum LVR is 70%. Annual Fee $395 applies. Other fees and charges may be payable. The Comparison Rate is based on a loan of $150,000 for 25 years. Fees and charges may be applicable. Loan subject to normal lending criteria and approval. IMPORTANT: The Comparison Rate applies only to the example given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees, early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan. $3,000 cashback available when you refinance. This includes $2,000 per refinanced property and a bonus $1,000 for your first application. Only available on Owner Occupier loans (P&I repayments) and Investment loans, with LVR+ up to 80% and min $250k loan per property. Flexi First Option or packaged home loans only ($395 annual package fee). Apply by 31 January 2021, settle by 31 March 2021. Conveyancing fee rebate up to $1,000 for first home buyers is only available to eligible first home buyers (including recipients of State or Territory government first home buyer concessions) only with home loans over $250,000. Apply between 1 October 2020 and 31 July 2021. Eligibility criteria and T&Cs apply. For full terms and conditions of above offers, please contact us.

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